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Nissan, Renault Cooperate for Competitiveness in EV

Negotiations between Nissan Automobile manufacturer and French multinational automaker revolve around investing more in electric vehicles (EV) to boost competitiveness according to the Nissan automaker’s CEO. Last month, the two carmakers announced the resumption of partnership, which started in 1999 when French Renault had a share in Nissan company.

The two partners are set to meet up on November 15th to come to an agreement. CEO of the Nissan Motor Company, Makoto Uchida, didn’t mention whether the deal could be finalized in November. He has been negotiating with CEO of Renault, Luca de Meo, and this would go on to the future.

The Japanese side said these talks aim to promote the auto manufactures’ competitiveness in uncertain economic situation in the world. He addressed the EV industry and called it the “biggest transformation in a century”. We hold talks to further strengthen our competitiveness, which is a priority, he added. Investment in Renault’s planned electric vehicle is a new consideration for the Nissan company. The two parts have been negotiating on lowering Renault’s 43% stake in Nissan to 15% and addressing the terms. Uchida said we are looking for a sensible equal partnership, which could accelerate the cooperation.   

In the meantime, Renault is also trying to keep up with the switch to EV; the US counterpart of Tesla is way ahead. 

French automaker is additionally in negotiations with Chinese Geely Auto Group on whether the company will take a stake in its internal combustion unit.

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By Samira Ha. on November 5, 2022


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